Lebanon to start roadshow Monday for exchange offer, may launch new money tranches

By Paul A. Harris

St. Louis, March 24 - The Republic of Lebanon will begin a roadshow on Monday for a bond exchange offering, according to a market source.

Subject to market conditions, Lebanon may also elect to launch new money tranches.

Credit Suisse Securities Europe Ltd., BNP Paribas and Bankmed are managing the exchange.

The bonds to be exchanged include Lebanon's dollar-denominated 9 7/8% notes maturing in April 2006, the dollar-denominated 10½% notes maturing in May 2006, the dollar-denominated 10½% notes maturing in June 2006, the dollar-denominated 10½% bonds maturing in August 2006 and the euro-denominated 8 7/8% bonds maturing in October 2006.

The new paper is expected to come in dollar and euro denominations with maturities between 2012 and 2021.

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